Updates, advisories and surprises

(7:52 PM ET) SYDNEY (MarketWatch) - Shares in the St. Joe Company
JOE, -0.38%
fell more than 13% in after-hours trading on Wednesday. The firm said it would delay the release of its fourth quarter and fiscal-year results. The company has postponed its earnings report to Mar. 1, from Feb. 24. The Florida-based real estate developer said the extension is required in order to finalize its Form 10-K.

CME Group hikes dividend 22% to $1.40 a share

(7:47 PM ET) SYDNEY (MarketWatch) -- Derivatives marketplace group CME Group Inc.
CME, -0.42%
said late Wednesday that it will pay a first-quarter dividend of $1.40 per share, a rise of 22%.

Origin Energy swings to first-half loss

(6:34 PM ET) SYDNEY (MarketWatch) - Shares in electricity and gas supplier Origin Energy Ltd.(AU:ORG)
OGFGF, +0.84%
fell more than 4% in Sydney trading on Thursday after the company swung to a fiscal first-half loss of 136 million Australian dollars ($136 million). In the year-ago period the firm reported a profit of A$371 million. The result was impacted by one-off charges including the acquisition of power assets. Revenues in the six months to 31. Dec 2010 increased to A$4.6 billion from A$4.3 billion on the year-ago period. The company expects to conduct an equity raising to pay off debt related to the purchase of power assets.

Insurance Australia Group profit more than halves

(5:10 PM ET) SYDNEY (MarketWatch) -- Insurance Australia Group Ltd.(AU:IAG)said Thursday that its fiscal first-half attributable net profit declined to 161 million Australian dollars ($161.3 million), from A$329 million in the year-ago period. Net premium revenue rose to A$3.7 billion in the six months to Dec. 31, from A$3.6 billion last year. The firm said its insurance profit declined to A$470 million, from A$488 million, resulting in an insurance margin declining to 12.7% from 13.4%, which it said was in line with guidance provided on Feb. 14. The result reflected the combination of an ongoing strong performance in Australia and New Zealand, offset by a disappointing result in the U.K, the firm said as it stuck to its fiscal-year guidance.

Air New Zealand profit jumps 75%

(5:08 PM ET) SYDNEY (MarketWatch) -- Air New Zealand(AU:AIZ)
ANZFF, -5.20%
said Thursday it posted first-half net profit of 98 million New Zealand dollars ($73.1 million), up from NZ$56 million in the same year-ago period. Revenue for the six months to 31 Dec. 2010 was NZ$2.2 billion, from NZ$2.1 billion a year earlier. The firm said passenger numbers, cargo volumes and yields have increased on year, offset by rising fuel prices and foreign exchange losses. The airline said fuel price volatility remains a significant risk to the year-end result.

Limited Brands posts 27% higher net profit

(5:07 PM ET) SAN FRANCISCO (MarketWatch) -- Limited Brands Inc.
LTD, -4.37%
whose apparel lines include Victoria's Secret and Pink, reported late Wednesday fourth-quarter net income rose to $452.3 million, or $1.36 a share, from $356.1 million, or $1.08 a year ago. Adjusted to exclude one-time items, the company's per-share earnings rose 25% to $1.26 from $1.01. Revenue for the three months ended Jan. 29 rose to $3.46 billion from $3.06 billion, reflecting 9% growth in same-store sales. Analysts polled by FactSet Research expected the retailer to earn $1.24 a share on $3.46 billion in sales. Limited Brands shares rose 3 cents in after-hours trade to $31.80. The stock is up 51% over the past 12 months.

Fairfax Media first-half profit rises 15%

(4:52 PM ET) SYDNEY (MarketWatch) -- Australian media group Fairfax Media Ltd.(AU:FXJ)said Thursday that its fiscal first-half net attributable profit totaled 172.3 million Australian dollars ($172.7 million), compared to A$149.2 million in the year-ago period. Revenue totaled A$1.3 billion, from A$1.26 billion last year. The firm said that retail advertising has continued to slow in 2011 and, while there have been some positive signs in recent weeks, the extent of the improvement remains unclear. "Depending on whether slower retail advertising continues through this half, our second-half revenue could in the range of plus or minus 5% on last year," it added.

Priceline profit up as sales rise 35%

(4:13 PM ET) SAN FRANCISCO (MarketWatch) -- Priceline.com Inc.
PCLN
said Wednesday that its fourth-quarter net income applicable to common stockholders rose to $135.7 million, or $2.66 a share, from $78.5 million, or $1.55 a share in the same period a year earlier. The online travel services provider said revenue for the period ended Dec. 31 rose 35% to $731.3 million. Excluding one-time items, Priceline said earnings for the period were $3.40 a share. Analysts polled by Thomson Reuters had expected Priceline to report earnings for the quarter of $3.09 a share, and $734.9 million in revenue.

Autodesk shares slip ahead of earnings

(2:27 PM ET) SAN FRANCISCO (MarketWatch) -- Shares of design software maker Autodesk Inc.
ADSK, -1.47%
fell 5% in Wednesday trading, one day ahead of the company's scheduled fourth-quarter earnings report. Shares of San Rafael, Calif.-based Autodesk slipped $2.11 to $39.99. Analysts polled by Thomson Reuters expect Autodesk to report fourth-quarter earnings of 34 cents a share, and $514.8 million in revenue, compared to earnings of 30 cents a share, and $456.1 million in revenue in the same period a year earlier. Shares of Autodesk hit a 52-week high of $44.44 earlier this month.

Quanta shares hit by disappointing outlook

(10:25 AM ET) SAN FRANCISCO (MarketWatch) -- Quanta Services
PWR, -1.05%
shares slid 6% to $21.29 early Wednesday after the provider of equipment to the electric power and telecommunications industries forecast a first-quarter outlook that fell well short of analyst views. Houston-based Quanta forecast sales between $775 million and $825 million, compared to the consensus analyst forecast of $874 million, according to FactSet Research. Quanta pegged adjusted earnings at 6 cents to 7 cents a share. Analysts are looking for 16 cents. Quanta shares were among the leading decliners on the S&P 500 Index
SPX, -1.03%
in Wednesday trade.

Frontier shares drop after profit miss

(10:05 AM ET) SAN FRANCISCO (MarketWatch) -- Frontier Communications
FTR, -7.25%
shares dropped 6% to $8.68 early Wednesday after the rural telecommunications provider reported a fourth-quarter profit that fell short of the consensus analyst estimate. The stock was among the top decliners on the S&P 500 Index
SPX, -1.03%
Frontier, which provides phone and Internet services to homes and businesses in 27 states, earned 5 cents a share in the quarter, after excluding the costs to acquire some of Verizon's operations. A FactSet Research poll of analysts had estimated Frontier would earn 10 cents a share. Year-to-date, Frontier shares are now down 11%.

(8:54 AM ET) CHICAGO (MarketWatch) -- Washington Post Co.
WPO
said its fourth-quarter profit fell 3% as revenue was just about flat at its Kaplan Inc. education division. Washington Post said it earned $79 million, or $9.42 a share, compared with a profit of $81.7 million, or $9.74, in the same quarter of 2009. Revenue was flat at $1.19 billion. Analysts polled by FactSet Research were expecting a profit of $8.72 a share on revenue of $1.19 billion.

Denbury Resources profit nearly triples

(8:46 AM ET) NEW YORK (MarketWatch) -- Denbury Resources Inc.
DNR, -3.83%
said Wednesday its fourth-quarter net income nearly tripled to $10.4 million, or 3 cents a share, from $3.5 million, or a penny a share, in the year-ago period. The Plano, Texas, oil and natural gas producer said its adjusted net income totaled 22 cents a share. Revenue increased to $519 million from $271 million. Wall Street analysts expected Denbury Resources to earn 18 cents a share, on revenue of $492 million, according to a survey by FactSet Research. The company said its fourth-quarter production, reserves and financial results were on or ahead of schedule. Looking ahead, Denbury said its 2011 capital budget will remain at $1.1 billion. The harsh winter has caused a "slower start" to the year, but the company expects to hit is 2011 targets.

Toll results better than expected: analyst

(8:19 AM ET) BOSTON (MarketWatch) --Toll Brothers Inc.'s
TOL, -1.41%
quarterly results showing a 4% rise in home orders was at the top end of expectations, said Ticonderoga Securities analyst Stephen East in a note Wednesday. "Net, we liked the quarter from an expectations and improvement perspective and expect the equity will perform well today," East wrote. "Much heavy lifting is still needed, but the results are encouraging." Toll before Wednesday's opening bell said it swung to a fiscal first-quarter profit.

DirecTV swings to fourth-quarter profit

(7:53 AM ET) NEW YORK (MarketWatch) -- DirecTV
DTV, +0.00%
said Wednesday it swung to a fourth-quarter profit of $618 million, or 74 cents a share, from a year-ago loss of $32 million, or 3 cents a share. Revenue rose to $6.62 billion from $5.98 billion. Weighted average of common shares declined to 833 million from 945 million. Analysts surveyed by FactSet Research were looking for earnings of 63 cents a share, on average, with sales of $6.52 billion. Shares of DirecTV were indicated higher in early trading.

Enterprise Products offers 29% premium for Duncan

(7:20 AM ET) NEW YORK (MarketWatch) -- Enterprise Products Partners LP
EPD, -1.91%
a Houston-based pipeline firm with a market capitalization of $28 billion, said Wednesday it's offering to pay $42 per common unit to buy Duncan Energy Partners LP
DEP, -20.00%
The deal values the Houston pipeline and storage firm at a premium of 29% over its closing price of $32.56 per common unit on Tuesday. Enterprise Products would pay 0.9545 of its common units for each unit of Duncan Energy Partners. Duncan said it would review the offer. Enterprise already owns 100% of the general partner of Duncan Energy Partners and 58% of the outstanding common units of Duncan Energy Partners. "Public unitholders of Duncan Energy Partners would receive a substantial premium over the current trading price, a substantial distribution increase and a more liquid security," said Michael Creel, Enterprise president and chief executive officer.

Nicor net profit falls 27%, sales fall 3.8%

(6:32 AM ET) MADRID (MarketWatch) -- Energy and gas shipping group Nicor Inc.
GAS, +0.00%
on Wednesday reported fourth-quarter net income fell 27% to $40.1 million against $55.2 million in the year-ago period. On a per share basis, the group earned 87 cents versus $1.21 a year ago. Nicor said results reflect higher operating income in its gas distribution unit, but lower operating income in shipping and other energy-related business, and lower corporate operating results. Revenue fell 3.8% to $738.8 million, against $768.1 million in the year-ago period. Analysts polled by FactSet Research were forecasting the company to earn 91 cents on revenue of $757.4 million. The company estimates EPS of $2.30 to $2.50, reflecting lower expected results in gas distribution and higher results in shipping and comparable results for other energy-related units. Its 2011 net income will be negatively impacted by the absence of the net benefit recognized in 2010.

Lowe's fourth-quarter earnings up 39% to $285 mln

(6:28 AM ET) LONDON (MarketWatch) -- Home-improvement retailer Lowe's Companies Inc.
LOW, -0.94%
on Wednesday reported net fourth-quarter earnings of $285 million, or 21 cents a share, compared to $205 million, or 14 cents a share, in the same period the previous year. A survey of Wall Street analysts by FactSet Research had produced a consensus forecast of 18 cents a share. Sales rose 3.1% to $10.5 billion. Comparable-store sales rose 1.1%. Lowe's said it expects total sales to rise around 2% in the first quarter of 2011, with diluted earnings of 34 to 38 cents a share. For fiscal-year 2011, Lowe's expects a 5% rise in total sales, with diluted earnings forecast in a range between $1.60 and $1.72 a share. Analysts surveyed by FactSet produced a 2011 consensus forecast of $1.41 a share.

WellPoint reaffirms guidance, lifts buyback

(6:18 AM ET) LONDON (MarketWatch) -- WellPoint Inc.
WLP
on Wednesday reaffirmed its earnings guidance as the group's board also declared a quarterly dividend and increased the company's share repurchase authorization to a total of $1.6 billion for 2011. The health benefits company said it's targeting earnings of at least $6.30 a share in 2011 and that it will pay a quarterly dividend of 25 cents a share. WellPoint also said it intends to utilize the full share buyback authorization by year-end, subject to market and industry conditions.

Toll Brothers posts profit; some markets improving

(5:31 AM ET) TEL AVIV (MarketWatch) -- Toll Brothers Inc.,
TOL, -1.41%
the Horsham, Pa., luxury-home builder, swung to a fiscal first-quarter profit from a year-earlier loss on 2.3% higher revenue. For the quarter ended Jan. 31, Toll earned $3.4 million, or 2 cents a share, against a loss of $40.8 million, or 25 cents, in the year-earlier period. The results reflected tax benefits of $20.4 million in the latest period and $16 million a year earlier. Revenue rose to $334.1 million from $326.7 million. A survey of analysts by FactSet Research produced consensus estimates of a loss of 8 cents a share on revenue of $317.7 million. In the quarter, the company signed contracts to sell 548 homes, 4% more than it did a year earlier. The average price of those homes was $560,000, up 1%. "The market is still tough; the home buyer is still wary," Chief Executive Douglas C. Yearley Jr. said in a Wednesday statement. Some markets appear to be improving, including the metro-Washington, D.C.-to-metro-Boston corridor, including New York City, he said.

Dresser-Rand: Mideast turmoil shouldn't hurt '11

(3:24 AM ET) TEL AVIV (MarketWatch) -- Dresser-Rand Group Inc.,
DRC, -2.04%
the Houston provider of energy-related equipment, said late on Tuesday that the turmoil in the Mideast and North Africa is cause for concern but should have no material adverse impact on its 2011 operations or revenue. In 2010, Dresser-Rand generated 6.9% of its nearly $2 billion of revenue from countries in the region. Algeria, Bahrain, Egypt, Libya, Tunisia and Yemen, six countries facing major protests from their citizens against their governments, represented 2.6% of total 2010 revenue, DRC said. Libya by itself represented 1.2% of 2010 revenue, and was the only regional country accounting for more than 1% of the total, the firm said.

Europe stocks open lower; Natixis, Barclays higher

(3:21 AM ET) MADRID (MarketWatch) -- European stocks opened lower on Wednesday, with markets still jittery amid Middle East unrest. Shares of French bank Natixis SA(FR:KN)jumped 6% and Commerzbank AG(DE:CBK)rose 1.1% on earnings news delivered by those banks. In the U.K., Barclays PLC
BCS, +4.85%
(UK:BARC)rose 2.4% on news it won a lawsuit filed by Lehman Brothers Holdings Inc. The Stoxx Europe 600 index(ST:SXXP)fell 0.4% to 284.23, while the German DAX 30 index(DX:DAX)fell 0.4% to 7,291.30 and the French CAC 40 index(FR:PX1)fell 0.2% to 4,042.81. The FTSE 100 index(UK:UKX)fell 0.5% to 5,967.56.

Natixis tops forecasts, reassures on capital

(2:34 AM ET) LONDON (MarketWatch) -- French corporate and investment bank Natixis SA(FR:KN)said Wednesday that its fourth-quarter net profit fell 48% to 442 million euros ($605 million) from 844 million euros a year earlier, when it booked a tax benefit and other one-off gains. The result was ahead of the 349 million euros consensus forecast of analysts. Natixis said net revenue at its core businesses rose 20% to 1.51 billion euros and pretax profit at the core businesses was up 70% at 491 million euros. Natixis said its core Tier 1 capital ratio was 7.9% at the end of 2010, compared to 6.6% a year earlier. It added that it expects to achieve a core Tier 1 ratio above 8% under new capital rules known as Basel III without having to raise more money from investors.

Commerzbank swings to profit; 2011 start upbeat

(2:14 AM ET) TEL AVIV (MarketWatch) - Commerzbank,
CRZBY, +1.40%
(DE:CBK)the Frankfurt banking giant, swung to a fourth-quarter profit from a year-earlier loss as interest on loans fell 10% but the provision for loan losses dropped by more than half. Earnings were €257 million against a loss of €1.86 billion in the year-earlier quarter. Net interest income slipped to €1.68 billion from €1.88 billion. The provision for loan losses was €595 million against €1.32 billion a year earlier. Results from trading operations swung to profit of €384 million from a loss of €574 million a year earlier. Commerzbank posted operating profit in the quarter of €256 million against a loss of €1.57 billion a year earlier. In a statement on Wednesday, Chief Financial Officer Eric Strutz said the bank "had a good start in January. February has so far also developed positively." The bank expects its provision for possible losses on bad loans to decline at least €200 million in 2011 to a maximum of €2.3 billion. And the integration of Dresdner Bank "is also progressing as planned," the bank said.

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